Popularity of Bitcoin Casinos Grows - Experts Say
Bitcoin, an encrypted currency which is not related to any nation in the world, is starting to gain more and more popularity within the gaming and betting world, making its mark on the online gambling scene. Spokespeople for the Gaming Counsel, a law firm which offers its services to gaming companies in Canada and the US, explained that the benefits of the untraceable currency Bitcoin, which include low transaction fees and no chargebacks, make it perfect for being used at online gaming sites. Operators who found out how to start online Bitcoin casinos are also aware of the fact that it has become extremely easy for players to deposit the currency in order to play games at internet gambling sites.
Stuart Hoegner, the managing director of the law firm also said that the number of operators who intend to open a Bitcoin gaming site has tripled in 2013. The most world-renowned Bitcoin casino, known as SatoshiDice, started with a minimum investment of 45 Bitcoin and was sold earlier this year for no less than $11.5 million worth of Bitcoin. Hoegner expressed the idea that Erik Voorhees, the creator of SatoshiDice, could be considered the smartest entrepreneur in the Bitcoin gaming industry for founding the gaming site that succeeded in attracting thousands of gamers from various nations around the world and ran on an $800 monthly budget. There is no doubt that operators who open online Bitcoin casinos in the near future will make it big on the gambling scene.
The first step towards starting an online casino which operates with real money is obtaining an online casino license. The products that we sell might require a casino/gambling license depending on the jurisdiction in which...